# PPP loan: XCEL MANAGEMENT, INC.
> **$1.05M** approved 04/15/2020 · Paid in Full · Loan `8827157107`
## Borrower
- **Name:** XCEL MANAGEMENT, INC.
- **Address:** 7361 Calhoun Pl, #600, DERWOOD, MD, 20855
- **NAICS:** 541214
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.05M
- **Initial approval:** $1.05M
- **Forgiven:** $1.06M (101%)
- **Forgiveness date:** 06/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $787K
- **Utilities:** $262K
- **Jobs reported:** 76
## Lender
- **Originating:** Sandy Spring Bank
- **Servicing:** Sandy Spring Bank (MD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*